Under subsection 13A (1) of the Currency Act 1965, the Assistant Treasurer has made a determination regarding the specification of coins proposed to be issued by the RAM.
Subsection 13A (1) of the Currency Act 1965 requires that the determination provides details of the coins characteristics including standard composition, standard weight, allowable variation from standard weight, design and dimensions.
This determination is a disallowable instrument for the purposes of section 42 of the Legislative Instruments Act 2003 (Subsection 13(6) and 13A (4) of the Currency Act 1965, Section 57 of the Legislative Instruments Act 2003).
Item 1 | 20c Coin
2010 Copper and Nickel 20c Uncirculated Coin - Australia Remembers: Lost Soldiers of Fromelles
A reverse design featuring a circle enclosing an artist impression of the “Cobbers” statue, to the right the inscription “20”.Outside of the circle are the inscriptions “AUSTRALIA REMEMBERS” and “LOST SOLDIERS OF FROMELLES”. The original “Cobbers” statue is located at the Australian Memorial Park Fromelles, France. A replica of the statue is located at the Shrine of Remembrance in Victoria, Australia. The Royal Australian Mint’s 2010 Australia Remembers project was completed with the association of the Australian Fromelles Project Group and the Office of Australian War Graves. |
Item 2 | $25 Coin
2010 Gold $25 Proof Kangaroo in Outback Design One (1) Coin
A reverse design consisting of a representation of a kangaroo and its shadow. In the background to the right is a representation of a windmill. To the left the inscription ‘1/5 oz.9999 Au’. This coin is packed as a three coin set with items 3 and 4 as a corporate commission. |
Item 3 | $25 Coin 2010 Gold $25 Proof Kangaroo in Outback Design Two (2) Coin A reverse design consisting of a representation of a kangaroo and its shadow superimposed on a representation of a windmill. To the left the inscription ‘1/5 oz.9999 Au’. This coin is packed as a three coin set with items 2 and 4 as a corporate commission. |
Item 4 | $25 Coin 2010 Gold $25 Proof Kangaroo in Outback Design Three (3) Coin A reverse design consisting of a representation of a kangaroo and its shadow near the kangaroo’s tail. In the background to the left is a representation of a windmill. Also to the left the inscription ‘1/5 oz.9999 Au’. This coin is packed as a three coin set with items 2 and 3 as a corporate commission. |
Obverse
Consistent with all Australian legal tender coinage, an effigy of Her Majesty Queen Elizabeth II will appear on the obverse sides of the coins. The effigy, together with the year ‘2010’, will appear on the obverse side of all the coins. Items 2, 3 and 4 will also include the inscription ’25 DOLLARS’.
Public consultation
No public consultation was undertaken in relation to the currency determination as they have limited public interest and the design of the coins is based on the commercial decisions of the Royal Australian Mint.
The determination commences on the day after it is registered.
Overview
The Currency Act 1965 was enacted by the Parliament of Australia to provide a framework for the issuance and management of Australian currency. One of the significant issues the Act addresses is the specification and design of coins to be issued by the Royal Australian Mint (RAM). Under the authority granted by subsection 13A(1) of the Currency Act 1965, the Assistant Treasurer has made a determination that outlines the characteristics of specific coins proposed to be issued by the RAM. This includes details such as the coins' standard composition, weight, allowable variations, design, and dimensions. The policy objective behind this determination is to ensure the coins meet the necessary standards and to commemorate significant historical events and figures, as seen in the designs of the 2010 commemorative coins. This determination is subject to disallowance under the Legislative Instruments Act 2003, providing a mechanism for parliamentary scrutiny of administrative decisions.
Scope and Application
The Currency Act 1965, as amended by the determination under subsection 13A (1), pertains to the specification of coins proposed for issuance by the Royal Australian Mint (RAM). This legislation applies to the RAM, a statutory corporation responsible for minting Australian currency. The coins in question are intended for commemorative purposes, including the 2010 Australia Remembers series and a three-coin set featuring a kangaroo design. The coins are intended for collectors and are not meant for general circulation. The geographic reach of this determination is national, as it applies to all activities within Australia. The determination does not extend to public consultation, given the limited public interest and commercial basis of the coin designs. This disallowable instrument, governed by the Legislative Instruments Act 2003, provides details on the coins' composition, weight, design, and dimensions. The determination will be effective from the day after its registration.
Key Provisions
The main operative sections of the Currency Act 1965, specifically subsection 13A(1), mandate that the Assistant Treasurer make a determination detailing the characteristics of coins proposed to be issued by the Royal Australian Mint (RAM). This includes standard composition, weight, allowable variation, design, and dimensions (subsection 13A(1)). The coins specified in the determination must meet these outlined characteristics to be legal tender. The determination is a disallowable instrument, meaning it can be reviewed and potentially disallowed by Parliament under section 42 of the Legislative Instruments Act 2003.
The Act imposes several obligations on the RAM and the Assistant Treasurer. The RAM must ensure that the coins meet the specified characteristics and are produced according to the design approved by the Assistant Treasurer. The Assistant Treasurer, on the other hand, must ensure that the coins meet the legal requirements and that the design aligns with the intended commemorative or informational purpose. The determination must be made in accordance with the legislative framework provided by the Currency Act 1965 and the Legislative Instruments Act 2003.
Under the Currency Act 1965, breaches of the specifications for legal tender coins can result in both civil and criminal consequences. Issuing coins that do not meet the required specifications could be considered an offence, potentially leading to criminal charges. The penalties for such offences are not explicitly stated in the provided text, but they could include fines and imprisonment, depending on the severity and intent of the breach. Civil consequences might also include fines or other financial penalties imposed by regulatory authorities. The maximum penalties, however, are not detailed in the provided text, and would need to be referred to in the relevant sections of the Currency Act 1965 and other applicable legislation.